Tennessee Code Title 9. Public Finances § 9-8-205

(1) Establish the type or types of insurance and the insurance limits as excess insurance coverage necessary to carry out the purposes of this part;

(2) Purchase or procure the insurance policy or policies with the fund as the insured;

(3) Establish the effective date for which insurance coverage will be provided;

(4) Enter into contracts with financial consultants, actuaries, auditors, investment managers, individual attorneys, law firms, and other consultants and professionals as necessary to effectuate the purposes of this part;

(5) Establish the process for the administration of claims filed pursuant to this part;

(6) Recommend annually to the commissioner of finance and administration the total occurrence basis funding required to satisfy the liabilities arising under this part; and

(7) Promulgate rules that are necessary to carry out the purpose and intent of this part.